ECN 211 Midterm 3 Exam Questions
and Answers 100% Pass
Which of the following most closely defines productivity? - CORRECT
ANSWER-The value of the amount of goods and services produced per worker
Investment explains a large amount, but not all, of a country's economic growth
(T/F) - CORRECT ANSWER-True
Which of the following will increase growth in poor countries but not rich
countries? - CORRECT ANSWER-Disease control
The Industrial Revolution increased economic growth by - CORRECT ANSWER-
moving workers from low productivity agricultural work to higher productivity
industrial work
Which of the following is not multiplied together to get GDP per capita? -
CORRECT ANSWER-Workers per hour
East Asian countries were able to grow in the second half of the 20th century
primarily because of - CORRECT ANSWER-High domestic savings
When females entered the labor force starting in the early 1970s, - CORRECT
ANSWER-GDP growth due to labor force participation grew
, Developed country growth rates and interest rates have been steadily falling for
over 30 years (T/F) - CORRECT ANSWER-True
After disaster events like wars and earthquakes, countries often - CORRECT
ANSWER-Grow faster as they rebuild and put unused resources back to work
Which of the following is not a way to increase productivity? - CORRECT
ANSWER-Increase hours worked
The Industrial Revolution did all of the following except - CORRECT ANSWER-
Reduced the average productivity of the workforce
Which of these productivity factors does not suffer from diminishing marginal
returns? - CORRECT ANSWER-Managerial efficiency techniques
The growth rate of countries after recessions is high because - CORRECT
ANSWER-Resources that were not being used are put back to work
Secular stagnation is a ___ growth phenomenon that operates through the ___ -
CORRECT ANSWER-Long run; demand side of the economy
___ long-term interest rates and ___ economic growth in the developed world are
evidence of possible secular stagnation - CORRECT ANSWER-Falling; falling
Over the past 30 years in the US, the growth of median income has been slower
than the growth of GDP per capita (T/F) - CORRECT ANSWER-True
The industrial revolution - CORRECT ANSWER-Created more jobs than it
destroyed
and Answers 100% Pass
Which of the following most closely defines productivity? - CORRECT
ANSWER-The value of the amount of goods and services produced per worker
Investment explains a large amount, but not all, of a country's economic growth
(T/F) - CORRECT ANSWER-True
Which of the following will increase growth in poor countries but not rich
countries? - CORRECT ANSWER-Disease control
The Industrial Revolution increased economic growth by - CORRECT ANSWER-
moving workers from low productivity agricultural work to higher productivity
industrial work
Which of the following is not multiplied together to get GDP per capita? -
CORRECT ANSWER-Workers per hour
East Asian countries were able to grow in the second half of the 20th century
primarily because of - CORRECT ANSWER-High domestic savings
When females entered the labor force starting in the early 1970s, - CORRECT
ANSWER-GDP growth due to labor force participation grew
, Developed country growth rates and interest rates have been steadily falling for
over 30 years (T/F) - CORRECT ANSWER-True
After disaster events like wars and earthquakes, countries often - CORRECT
ANSWER-Grow faster as they rebuild and put unused resources back to work
Which of the following is not a way to increase productivity? - CORRECT
ANSWER-Increase hours worked
The Industrial Revolution did all of the following except - CORRECT ANSWER-
Reduced the average productivity of the workforce
Which of these productivity factors does not suffer from diminishing marginal
returns? - CORRECT ANSWER-Managerial efficiency techniques
The growth rate of countries after recessions is high because - CORRECT
ANSWER-Resources that were not being used are put back to work
Secular stagnation is a ___ growth phenomenon that operates through the ___ -
CORRECT ANSWER-Long run; demand side of the economy
___ long-term interest rates and ___ economic growth in the developed world are
evidence of possible secular stagnation - CORRECT ANSWER-Falling; falling
Over the past 30 years in the US, the growth of median income has been slower
than the growth of GDP per capita (T/F) - CORRECT ANSWER-True
The industrial revolution - CORRECT ANSWER-Created more jobs than it
destroyed
